Investing for your life goals is the key to turn those goals and aspirations into reality. As a responsible investor, it is important to set aside a portion of your income every month for your goal-based investments. Unit Linked Insurance Plans (ULIPs) have emerged as one of the preferred mode of investing for your life goals as it serves the dual purpose of earning good returns through marked-linked funds and at the same time ensuring protection to your family. Like other financial products, ULIP have charges associated with it too. But the good thing is these ULIP charges have reduced over the years because the Insurance Regulatory and Development Authority of India (IRDAI) has capped these charges.
In this article, let's discuss about the different ULIP charges :